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Cyber Attacks / Data Breach
Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.
From early-stage biotechnology start-ups to large multinational pharmaceuticals, the life sciences industry relies on innovation to meet shifting demands in health and improve treatment outcomes around the globe. However, emerging and established risks force organizations to operate in a volatile environment. While navigating research and development challenges, supply chain impacts and barriers to commercial sales, businesses also find themselves swept up in the fight for talent.
Finding new ways to cost-effectively manage risk and attract and retain a digitally-savvy workforce will accelerate innovation to create greater efficiencies, develop personalized medical treatments and access new markets. But with ever-evolving regulation, governance and production interruptions impacting the pace of progress, businesses across this sector must be resilient, investing in end-to-end solutions for their risk and human capital, as well as workforce health and wellbeing to protect vital talent.
Looking ahead to 2024, predicted risks for the life sciences industry include:
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Life Sciences industry respondents to our Global Risk Management Survey (GRMS) ranked supply chain or distribution failure and cyber attack or data breach as their two most critical risks.
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